Features 3

How Partners& generated £1.8 million ROI on its FullCircl SmartBroker + Acturis investment

“As a partner of both firms, and a business committed to intelligent use of technology, we could see the natural synergy in this integration, and the potential added value for our business.”

Phil Barton, CEO at Partners&

The Customer

Partners& is one of the UK’s leading insurance businesses, offering a broad range of insurance solutions to a wide selection of industries.

The Solution

An API-powered integration between Acturis and FullCircl’s SmartBroker, delivering next-generation data enrichment proven to drive growth, improve decisioning, and enhance compliance.

The Challenge

To generate meaningful opportunities for growth, by surfacing rules and data insights within FullCircl and integrating them into Acturis.

The Benefits

Partners& rolled out FullCircl + Acturis in November 2023, and just two months later saw a £1.8 million / 55x return on investment (ROI).

Client Acquisition
June 2024

WHO ARE PARTNERS&

Partners& is one of the UK’s leading insurance businesses, offering a broad range of insurance solutions to a wide selection of industries.

£199k

Opportunities identified

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£1.4 million

Savings

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£158k

Time savings

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54.8x

ROI generated

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The Partners& Story

Partners& aims to become the UK’s best advisory service by delivering advice and outcomes that make a difference.  Committed to combining technical expertise, client centricity and modern thinking with smart use of technology, Partners& has been a FullCircl customer since its formation in 2020.

When FullCircl and Acturis began exploring the potential benefits of an integration, tech-savvy Partners& were quick to throw their support behind this great collaborative partnership and become an official development partner.

Speaking about the experience, Phil Barton CEO at Partners&, explained: “As a partner of both firms, and a business committed to intelligent use of technology, we could see the natural synergy in this integration, and the potential added value for our business.”

This view was reinforced by Partners& Head of Technology and Change, Ian Keats: “Our primary focus is the smart use of technology to obtain better outcomes for our customers. This is a vital partnership in our wider collaborative ecosystem, adding huge value to both our people and our clients.”

First Mover Advantage

Being the first UK insurance business to successfully deploy FullCircl SmartBroker within the Acturis platform has brought Partners& a range of first-mover advantages. These include improving their ability to identify and win new customers, generating time savings with access to high-quality data, enriching company intelligence, improving underwriting submissions, enhancing customer experience and outcomes, and complying with the Consumer Duty.

Ian explained just how transformative FullCircl + Acturis has been for the business: “FullCircl + Acturis gives us one version of the truth. The cost of poor-quality data is high both in financial and efficiency terms.  This solution helps us identify and win new customers, perform better due diligence, accelerate onboarding, and improve in-life monitoring for better renewal rates.”

He continued: “As a regulated business we must ensure we have a comprehensive understanding of the individual risks and exposures each of clients faces, and that at all times our programmes are designed to balance needs and value – FullCircl + Acturis helps us deliver that vital trusted advisor approach.”

A trifecta of benefits

Partners& rolled out FullCircl + Acturis in November 2023, and just two months later saw a £1.8million/ 55x return on investment (ROI) thanks to:

  • Improvements to data quality: £238,000 in additional commission, based on opportunities that would have been lost due to inaccurate data. This equates to a potential of £1.4 million annually and a 44x ROI.
  • New business opportunities: more than £30,000 in new business opportunities identified across premium and trade credit, D&O, property, fleet, employer’s liability, public liability, private clients, and marine cargo - thanks to enriched company intelligence.  This equates to a potential £199,000 worth of new business pipeline over 12 months, and a 6x ROI.
  • Time savings: 2,793 automatically enriched company accounts generated 878 hours’ worth of time savings - equivalent to 3 full time brokers. This delivered a combined time saving value of £158,000 and a 5x ROI.

For Partners& clients, continuous improvements in the quality of data harnessed by brokers means risk exposures and niches of business are quickly identified and presented clearly to underwriters.  This translates into enhanced policy wordings, tailored solutions, and keener rates.  

It also makes clients stickier, as Ian explained: SmartBroker + Acturis ensures we are always on the front foot of what’s happening in our client’s world. We maintain continuous engagement and reach out in the right way, at the right time, and with the next best actions to tackle the challenges they are facing.”

Data-driven transformation

Insurance providers face a pressing need to align with evolving customer needs and expectations, adapt to a changing competitive landscape, and navigate shifting regulatory requirements. Quite simply, they need data-driven transformation at every stage of the customer lifecycle.  

By being the first to deploy FullCircl + Acturis, Partners& is ahead of the curve. Summing up the FullCircl + Acturis experience, Phil Barton concludes “I am pleased to have played a role in influencing the development of this valuable proposition for the broking community.” 

So, what's next?  

“FullCircl has relationships across the entire insurance ecosystem and will keep applying learnings and best practices from across the customer base for the benefit of us all. We are keen to continue playing a role in the evolution of SmartBroker, because it’s an investment not only in the success of our business, but in the success of our clients too.”

Ian Keats, Head of Technology and Change at Partners&

Want to learn more? Get your guide to the FullCircl + Acturis partnership here.

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